Crypto Trader Earns $2.1 Million in Solana in Less Than 20 Minutes 💰
A trader made a $2.1 million profit in under 20 minutes on the Solana blockchain. This event, shared by Lookonchain, has raised concerns about market manipulation and insider trading.
Trade Breakdown:
- A new wallet was created 5 hours before the trade.
- Funds were withdrawn from Bybit to this wallet.
- The trader spent 16,900 SOL ($2.1 million) to buy 612.23 million $WATER tokens, representing 22.71% of the pool.
- The buy order was executed as the deployer added liquidity.
- The trader sold all $WATER tokens for 39,279 SOL ($5 million), netting 22,379 SOL ($2.9 million) in profit.
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Community Reaction:
The crypto community expressed concerns about potential insider trading. Sarah Milady and Solana developer Guney warned of a likely price drop for $WATER, predicting it could fall to zero. This event highlights the risks in crypto trading, where significant profits and losses coexist.
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